Mortgage Rates Today

Current Mortgage Rates – VA and FHA Loan Rates Increase

Graph of 10-year Notes

(Best Syndication News) Conventional mortgage rates slumped today after Freddie Mac made drastic changes in their required net yield (RNY) rates (see the mortgage rate charts below). The London InterBank Offered Rate (LIBOR) dropped while the 10-year note yield jumped four basis points (bps).

Although the average mortgage rate fell this week, the monthly and 100-day trend has been much higher. Higher home prices and a faster pace in home sales is producing a seller’s market in the United States. This could change if interest rates continue to rise – however the Federal Reserve has not signaled any changed in their targets.

Current Mortgage Rates Today – Wells Fargo and Bank of America Make Changes

Graph of 10-year Notes

(Best Syndication News) Mortgage rates edged higher today as lenders continue to adjust their products to the changing secondary lending market (see charts below). stocks were mixed as the Dow Jones Industrial Average (DJIA) moved lower and the S&P 500 and NASDAQ gained ground.

The average 30-year fixed rate mortgage (FRM) jumped 11 basis points (bps) in one day. The average 30-year rate is now 4.264 percent (see the chart below). The most common mortgage product has climbed 60 bps over the last 100 days.

Freddie Mac (FHLMC) has not updated their 30-year required net yield rate (RNY) for over one week, but this secondary lending factor has been steadily increasing as well. Fannie Mae (FNMA) raised their 30-year 60-year RNY rate one basis point on Tuesday.

Mortgage rates were higher today as the benchmarks provide mixed results

Graph of 30-year mortgage

(Best Syndication News) Mortgage interest rates jumped four basis points (bps) on Friday as money flowed back into equities (see the mortgage rate charts below). A set of worse-than-expected economic indicators put pressure on stocks throughout the week.

Benchmarks

The Dow Jones Industrial Average (DJIA) advanced 48 points (+0.35%) on Friday but was down 12.02 percent on the week. On Monday the Department of Commerce said that Factory orders increased just 1.8 percent in December. Economists were expecting a three percent increase.

Current Mortgage Rates Today – Loan rates rise at SunTrust but fall at JPMorgan Chase

15-Year Mortgage Rates

(Best Syndication News) Mortgage interest rates began to rise after two-straight days of declines (see the mortgage rate charts below). Although some of the benchmarks were higher, the rise in secondary lending rates pushed loans up at U.S. Bank, SunTrust, KeyBank, and PNC; however, JPMorgan Chase lowered their rate.

Benchmarks

The Boeing Company (NYSE:BA) weighed on the Dow Jones Industrial Average today pushing the index down 23 points, however the wider market gained value. Because there are only 30 constituents in the Dow, a three percent pull-back in the value of BA had a major influence on the index.

Current Mortgage Rates Today – HSBC and KeyBank among banks lowering loan rates

Chart VA mortgage rates

(Best Syndication News) A drop in secondary yields pushed mortgage rates lower today after weak manufacturing numbers were released by the Federal Reserve (see the mortgage rate charts below). Nearly all of the major banks, including JPMorgan Chase, KeyBank, HSBC, and Bank of America, lowered their mortgage loan rates.

Benchmarks

Stock markets in the United States opened lower Tuesday after disappointing economic news put pressure on the major indexes. There was a pull-back on stock prices early in the morning but by the closing bell there was a reprieve.

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